Mexico competition watchdog fines pension funds $58 mln

MEXICO CITY, May 4 (Reuters) - Mexico's competition regulator on Thursday announced it fined four pension funds a total of 1.1 billion pesos ($58 million) for antitrust violations.

The Federal Economic Competition Commission (Cofece) said in a statement it had fined four "afores," as they are known locally: Profuturo GNP Afore, Afore Sura, Afore XXI Banorte and Principal Afore. It also said it had sanctioned 11 people who represented the pension funds.

Cofece did not disclose how much it fined each individual institution.